Prime development site in Old Town. The price is reflective its development potential. The exterior has been redone with hardi plank siding, the roof replaced, new windows, some flooring has been replaced, new paint, new appliances, and a new shed and fence. The property is a corner lot, and is zoned DT 8 - Old City Mixed Use. The seller has plans to redevelop with 8 townhomes fronting on Prideaux and to be possible combined with adjacent property for up to 20 units. Buyers are advised to make their own independent inquiries with City of Nanaimo with regards to zoning specifics and development options.